On The Web

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Risk

The NYC Subway’s New Tap-to-pay System Has a Hidden Cost — Rider Data

March 17 2020

• in
• Privacy
• Transit payments

“However, experts say the OMNY payment scheme is rife with problems, based on the limited information about the system made public in its terms of service and privacy policy . The collection of significant amounts of information from users, including smartphone device identifiers and location, which, coupled with payment and transportation data, could be used […]

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Domains

India’s Yes Bank breakdown disrupts Walmart’s PhonePe among a dozen other services

March 6 2020

• in
• Mobile Payments
• Operations

“Tens of millions of merchants and users in India are struggling to make online transactions and use several popular services after the nation’s central bank seized control of Yes Bank, the fourth largest lender in the country. The emergency takeover of the private sector bank has taken off several financial startups that rely on it […]

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Domains

Chinese Supply Chain Payments Fell Sharply Amid Coronavirus Outbreak

March 5 2020

• in
• B2B
• Supply chain

“Tradeshift Inc., a San Francisco-based payments firm, announced that cross border and domestic supply chain payments in China fell by more than half in mid-February following the coronavirus outbreak. The data shows that trade activity in the region fell by 56% during the week of February 16th, following steady declines related to coronavirus. The report also […]

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Companies

Walmart’s U.S. Boss Expects Coronavirus to Alter Shopping Permanently

May 22 2020

• in
• Ecommerce
• Walmart

“When John Furner became chief executive of Walmart Inc.’s WMT -0.53% U.S. operations last year, the biggest challenge was Amazon.com Inc. AMZN -0.40% Now Mr. Furner—who began his career at the company in 1993 as an hourly store worker and most recently led Walmart’s Sam’s Club—is leading the largest business unit at the country’s largest retailer during […]

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Use

Instagram founder launches gift card site for quarantined restaurants

March 20 2020

• in
• Closed loop prepaid

Coronavirus quarantines are hurting local businesses, but Instagram  co-founder Mike Krieger  wants to help them keep revenue rolling in. Krieger and his wife Kaitlyn this week launched SaveOurFaves, a directory of Bay Area restaurants selling gift certificates to offset lost income amidst “shelter in place” orders across the region. Users can search for restaurants or browse by neighborhood, and then […]

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Companies

Chinese commuters can now use Apple Pay Express Transit nationwide with China T-Union cards

April 10 2020

• in
• Apple
• China
• Transit payments

“In China, Express Transit was already available in Beijing and Shanghai with integration with local transit cards. Now, a new partnership means Apple and China T-Union can cover a huge part of the region with Express Transit integration. China T-Union cards are accepted in 275 Chinese cities. Apple Pay-based travel is even more useful in […]

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Use

Whole Foods Is Restricting Cash Payments in Some Stores

April 28 2020

• in
• Cashless

“Amidst concerns over the ongoing spread of the coronavirus , at least one national grocery chain has begun limiting the use of cash in some stores.Last Friday, reports began to surface on social media of Whole Foods stores restricting or even eliminating cash payments. The grocers’ move comes as health experts cited by CBS warn […]

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Global

Online Cannabis Marketplace Dutchie Now Taking Visa, Mastercard Payments In Canada

April 17 2020

• in
• Canada
• Cannabis payments

“In an exclusive conversation online cannabis marketplace operator Dutchie revealed it has been quietly processing Visa and Mastercard payments in Canada since Thursday, April 9, enabled by a partnership with secure payment solutions provider Merrco. While cannabis is federally legal in Canada – unlike the U.S., implementing digital and/or contactless payment solutions continues to pose a […]

On The Wires

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Use

Wirecard and Klarna Launch Joint Payment Solution for Merchants

March 12 2020

• in
• Installment payments

“Wirecard, the global innovation leader for digital financial technology, and Klarna, a leading global payments and shopping provider, announced today the launch of a new enhanced joint payment solution. All three Klarna shopping methods, Pay Now, Pay Later and Klarna Financing, can now be embedded into merchants’ checkout via a single integration through the Wirecard […]

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Use

Mastercard and Samsung Partner to Enable Digital Inclusion | Global Hub

March 13 2020

• in
• Financial Inclusion

“Mastercard’s Pay on Demand platform is designed to accelerate digital inclusion by bringing together financial institutions, original equipment manufacturers and telcos to holistically solve issues that have limited device financing in emerging markets. In line with Mastercard’s principles for data responsibility , the solution allows consumers to access devices in a pay-as-you-go model.”